Molecular Diagnostics Market is worth USD 5.44 billion in 2014 and is expected to reach USD 11.04 billion by 2022, at a CAGR of 9.3% from 2014 to 2022.

The global molecular diagnostics market report offers in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and challenges in the molecular diagnostics market.

KEY BENEFITS OF THE REPORT

Extensive evaluation of all the market dynamics that will impact this market during the forecast period

Granular understanding of the historical market trend and the resultant market forecast

Deeper understanding of the behavior of the key players and innovators influencing this market

KEY PREMIUM INDUSTRY INSIGHTS

Growing prevalence of chronic diseases, the increased usage of the biomarkers, high demand for the personalized medicines, and the rapid technology advancements are the major drivers for the molecular diagnostics market.

According to the World Health Organization, by 2020, chronic diseases are estimated to account for around 58% of the global burden of disease and 60% of this burden will occur in the emerging countries. The governments are keen on controlling and preventing these diseases by putting greater emphasis on preventive health solutions and personalized care.

Various advancements in precise detection and diagnoses of disease will help reduce the cost of treating these chronic conditions. The molecular diagnostics market is set to increase exponentially in the future.

Molecular diagnostics techniques lead to the development of the advanced diagnostics and blood screening platforms and tests. They also help to develop a better understanding of the nature of chronic diseases and devise pathways to develop personalized treatments.

However, the regulatory landscape and reimbursement issue are the major restraints for the global market.

Applications of molecular diagnostics in cancer management and pharmacogenomics will present the major opportunities for this market. The shift in technology such as point of care will further boost this market.

RESEARCH METHODOLOGY

The research methodology for Scalar Market Research’s molecular diagnostics market report utilizes a combination of top-down and bottom-up research formats. Our primary focus on continuous market tracking, rigorous fact-checking, data-triangulation, and multiple layers of quality control ensures high-quality data that can be leveraged for actionable research insights.